FCPA Compliance and Ethics Report-Episode 51-Interview with Tim Haidar
The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued new guidance regarding the status of entities that are 50% or more owned by persons or entities whose property and interests in property are...more
The U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) revised its guidance with respect to entities owned 50 percent or more in the aggregate by more than one blocked persons. The new guidance, issued on...more
On August 13, 2014, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) published guidance (“Revised Guidance”) that revises its 2008 guidance regarding how to treat entities that are owned or...more
Starting in March of this year, the United States imposed economic sanctions in response to Russian-led actions in Ukraine. Since March, responding to the deteriorating situation, US sanctions have continued to escalate. ...more
New EU restrictions and prohibitions -
As the crisis over Ukrainian sovereignty has deepened, notably following the crash of Malaysia Airlines Flight 17, the EU has sought to increase punitive measures on rebel groups...more
The sanctions directly affect companies involved in Russia's oil and gas industries by imposing new export license requirements....more
On August 6, 2014, Canada amended the Special Economic Measures (Ukraine) Regulations and Special Economic Measures (Russia) Regulations to further expand the list of “designated persons”, both individuals and entities, with...more
On 31 July 2014 Verkhovna Rada approved Law #4309a "On amendments to Tax Code of Ukraine and other legislative acts (on improvement of certain provisions)" (Law).
The law was signed by the President on 1 August 2014...more
This Alert follows our previous alerts on the Russia/Ukraine sanctions available on our website. July continued to be a busy time as the Verkhovna Rada (the Ukrainian Parliament), the EU and the United States intensified...more
U.S. and EU Release New Export Restrictions on Exports of Equipment and Technology to Russia Exploration Projects -
In a sweeping expansion of export restrictions against Russia in response to their finding that...more
Summary and conclusions -
Ukraine is experiencing the fast development of outsourcing industry due primarily to IT outsourcing. This is supported by tax incentives introduced for the IT sector.
On July 18, 2014, the European Council adopted Regulation (EU) No 783/20141 which expanded the scope of individuals, entities and bodies who could be added to the list of sanctions targets. Those materially or financially...more
The EU’s “Stage 3” sanctions restrict exports to the Russian military, exports of certain technologies for the oil industry, and certain Russian State-owned banks’ access to EU capital markets.
New EU Measures Target...more
Welcome to the July 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month on the anticorruption front, two Noble Corporation executives settle with the U.S. Securities and Exchange...more
US extends sanctions to three Russian banks, a shipbuilding company and exports of energy sector items to Russia; EU announces similar measures.
Additional OFAC Designations -
On July 29, 2014, the U.S....more
On July 29, 2014, the United States and the European Union (EU) announced a significant expansion of sanctions against Russia in response to its continued support of separatists in eastern Ukraine. The measures introduced by...more
On July 29, 2014, the United States expanded sectoral sanctions, targeting the Russian financial, defense and energy sectors in response to the ongoing unrest in Ukraine. The new sanctions include the addition of three...more
Late on 25 July, the EU added 15 further persons and 18 entities responsible for action against Ukraine's territorial integrity to the list of those subject to an asset freeze, a prohibition against making funds or economic...more
On July 16, 2014 in response to the ongoing crisis in Ukraine, the U.S. Office of Foreign Assets Control announced that it was adding several individuals and entities to the Specially Designated Nationals (SDN) list. As with...more
Ukraine Crisis -
Last week, the Malaysian Government negotiated and secured from the pro-Russian separatists in Ukraine the black boxes from the downed passenger airliner (MH17). The Malaysian Government also secured...more
On July 24, 2014, Canada amended the Special Economic Measures (Ukraine) Regulations and Special Economic Measures (Russia) Regulations to expand the list of “designated persons” with whom Canadians are prohibited from...more
This alert resumes three changes to EU sanctions adopted over the past week. This week is likely to be equally busy as further sanctions on Ukraine and Russia are expected imminently.
First, and most important, the...more
Although Obama Administration officials undoubtedly recognize the need to punish Russia and Russian-backed rebels for their alleged role in the MH17 tragedy, they also will continue to weigh the effects of further sanctions...more
“Fuel switching”—changing power plants over to natural gas from coal—is one of the compliance paths for achieving the carbon emission reductions in the EPA’s proposed existing power plant carbon emissions reduction rule. ...more
On July 16, 2014, the United States ratcheted up its sanctions on Russia in connection with escalating tensions in Eastern Ukraine. Specifically, the U.S. Department of the Treasury, Office of Foreign Assets Control (“OFAC”)...more
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